Lump sum pensions?

Unlikely that you would lose pension entirely. Tough call between lump sum and payment. Depends on lump sum amount, your health, marital status.

 

My take, if its peanuts I would take the pension.

If not, then you have money to buy something worthwhile.

 

Legacy S/P pension lump sum calculations-mystery.

 

Their are people over 60 who received no retirement bridge. These folks have only the high cost, huge deductible ACA healthplans as their only option. Hard to believe they would do this but they actually do. Pretty disgraceful, but who is surprised anymore around here.

 

U.S. employees can be easily cut, they are on the "at will"contract. This is why major cuts are done in U.S. . Employees in Europe are protected by workers union, and it cost much more money and time to get ride of employees. This is a price that American workers pay fo living in capitalism. You can be disposed in less than 10 days notice even when you are top performer. Once corp. management decides that you are to expensive to keep you are gone, and they don't care if you have health insurance or pension. Older you get less respect you get at work. Age and high earnings are against you.

 

So the worker must protect themselves with documentation, etc. If you are suddenly 50 something and are suddenly incompetent you have a case. People must take action like those who did take action. Do not become intimidated by these pharma companies or its management. Speak with an unemployment attorney and do not remain complacent.

 

There are multiple pension plans in place. People who qualify for rule of 85 are probably in the best position, meaning you've probably been with merck over 20 years.

 

Company is run by lawyers. Once you accept severence pay you have no chance to win your case.

 

good advice, but in the real world it doesn't work that way...Merck rarely loses, and they will lie, cheat and make up things about you if need be...

If you are over 50, and they are coming after you, just try and find another way to earn a living...or you will end up with a nervous breakdown or PTSD from Merck...Believe me, these people don't mess around when they want to force you out.

You would not believe the lengths they will go to...And the company is made up of lawyers so try fighting them...yeah right...

 

No incorrect. None of these large pharma companies want a subpoena or to go to court because it is public record. If you have documentation and proof you will settle out of court and do very well - better than severance.

 

It depends on temperament and risk tolerance. My wife wants the safety of that monthly pension payment after a lifetime of risks. We can do the investing with the savings and 401k money but she wants that security - especially if I croak first. I have to respect those wishes for my part.

I think the "right" answer will vary by individual/couple. We'll have a decent retirement with the combined monthly payment, Social security, savings, and 401k.

 

I think the above post is very confused. First of all: you always receive your 401K and pension. The pension is earned and it is your money; they cannot take that away. The litigation would provide additional funds more than severance if settled out of court. You must be able to prove and document your case.

 

All of you idiots out there in never never land, the employer mandate beginning in 2016 will introduce all of you into obamafraud. Can't wait to hear the whining

 

No wonder Merck is hitting the skids. You people are morons! Pension is federally guaranteed if Merck folds. Once medicare eligible, you can dump Merck plan and find another supplement plan at 1/3 or less the cost and better coverage.
You are the typical old farts, and I am an old fart, wanting someone to take care of you like the rest of The lazy "poor", illegal immigrants/ parasites, and bums.

 

The government does not guarantee your whole pension. If you take it before 65, the max is around 27k. If you take it after 65, max is around 55k.

Also, it is a percentage of what you currently get, which means you could get less than 27k per year.

 

Keep dropping those projections!

You're way off!

If you're cut before the basic ten years expect it to be worth nothing more than a gas fill up and a few bags of groceries....

It's no where near a modest, but whopping 27K!!

Hitting the 10 years is what brings relief..........hitting 15, 20 brings increasing glee!

 

Live on is over 30.....good luck these days with that.

 

The point is take whatever crappy lump sum you can get. The pension fund won't be around long.

 

Any downside to not taking a lump sum?

Where can you get a comparable deal?

Investments and be shaky....and annuity deals might not be secure....

Hmmmmmmmmmm!

 

A bird in hand is better than two in the bush. With the Democrats in power it's all moot.
You have to share your wealth with all the deadbeats, immigrants, losers, underemployed, poor losers with their school debt, the working poor, etc. etc.
that's socialism....everyone but the actual earners benefit. Total Bullshit!
Survival of the fittest, natural selection. Don't want to work? Starve.